Akorn and Serum to commercialise six vaccines in the US
Akorn and Serum Institute of India, pme of the world's largest manufacturer of measles, and diphtheria tetanus pertussis vaccines, has signed an exclusive memorandum of understanding with an intent to commercialise six vaccines for the US market.
Akorn and Serum Institute of India, pme of the world's largest manufacturer of measles, and diphtheria tetanus pertussis vaccines, has signed an exclusive memorandum of understanding with an intent to commercialise six vaccines for the US market.
The four vaccine products are:Measles, Mumps and Rubella Vaccine (MMR), the Human Diploid Rabies Vaccine, Recombinant Hepatitis B Vaccine and Oncology Bladder Cancer Vaccine (BCG).
Serum manufactures and intends to sell the vaccine products in the US on an exclusive basis. The four vaccine products have a combined current U.S. market size of approximately $1.5bn.
Serum has agreed to manufacture the vaccines and grant Akorn exclusive marketing rights for the vaccines in the US for 10 years from the date of receipt of biologics license application approval.
Serum is the world's fifth largest vaccine manufacturer and is well recognised within the vaccine community as a worldwide leader in vaccine development and manufacturing.
To date, the company has sold over one billion measles vaccine doses. Over the years, Serum has supplied vaccines to over 130 countries and has relationships with the World Health Organization (WHO), UNICEF, and the Pan American Health Organization (PAHO). Serum has been responsible for immunizing many of the world's children from debilitating diseases.
Arthur S. Przybyl, Akorn's president and chief executive officer said: "Within three to five years, Akorn intends to become a leading provider of affordable, proprietary vaccines in the US marketplace. Akorn expects to continue pursuing generic and specialty pharmaceutical opportunities in its existing ophthalmic and hospital drug business segments. We are privileged to partner with Dr Poonawalla and his company, the Serum Institute of India, to exclusively bring his vaccine products into the United States. Serum possesses the intellectual property and manufacturing infrastructure, and Akorn is building a sales and marketing infrastructure that when combined with Serum's capabilities, represents a powerful effort to commercialise these vaccine products. I believe these four vaccine products are only the beginning and that we will add other vaccines to our partnership portfolio in the future."